nLight (NASDAQ:LASR) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of nLight (NASDAQ:LASR) have received a consensus rating of “Moderate Buy” from the ten ratings firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $38.4286.

A number of analysts have recently commented on the stock. Needham & Company LLC boosted their target price on shares of nLight from $39.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday, January 13th. Roth Mkm began coverage on shares of nLight in a research note on Wednesday, December 17th. They set a “buy” rating and a $44.00 price objective on the stock. Wall Street Zen cut nLight from a “buy” rating to a “hold” rating in a research report on Friday, January 23rd. Stifel Nicolaus started coverage on nLight in a research report on Tuesday, January 20th. They set a “buy” rating and a $60.00 price objective for the company. Finally, Canaccord Genuity Group upgraded nLight to a “buy” rating in a research note on Wednesday, December 17th.

nLight Stock Up 2.5%

LASR stock opened at $47.11 on Friday. nLight has a fifty-two week low of $6.20 and a fifty-two week high of $48.31. The company has a market capitalization of $2.39 billion, a price-to-earnings ratio of -53.53 and a beta of 2.33. The business’s 50 day moving average price is $38.91 and its two-hundred day moving average price is $31.73. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.36 and a current ratio of 5.63.

Insider Activity

In other nLight news, CFO Joseph John Corso sold 66,075 shares of the stock in a transaction on Monday, December 15th. The stock was sold at an average price of $36.32, for a total transaction of $2,399,844.00. Following the sale, the chief financial officer directly owned 196,224 shares in the company, valued at approximately $7,126,855.68. This trade represents a 25.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Raymond A. Link sold 12,560 shares of the business’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $35.33, for a total value of $443,744.80. Following the completion of the transaction, the director owned 102,576 shares of the company’s stock, valued at $3,624,010.08. This represents a 10.91% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 141,262 shares of company stock worth $5,101,910. Corporate insiders own 4.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LASR. Pictet Asset Management Holding SA bought a new stake in nLight in the 4th quarter worth approximately $335,000. Cornerstone Investment Partners LLC purchased a new position in shares of nLight in the 4th quarter worth $229,000. Vanguard Group Inc. grew its holdings in shares of nLight by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 4,989,758 shares of the company’s stock worth $187,166,000 after acquiring an additional 125,446 shares during the period. NBC Securities Inc. grew its holdings in shares of nLight by 139.2% in the fourth quarter. NBC Securities Inc. now owns 3,627 shares of the company’s stock worth $136,000 after acquiring an additional 2,111 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in nLight during the fourth quarter valued at $788,000. Institutional investors own 83.88% of the company’s stock.

About nLight

nLIGHT, Inc designs, develops, manufactures, and sells semiconductor and fiber lasers for industrial, microfabrication, and aerospace and defense applications. The company operates in two segments, Laser Products and Advanced Development. It offers semiconductor lasers with various ranges of power levels, wavelengths, and output fiber sizes; and programmable and serviceable fiber lasers for use in industrial and aerospace and defense applications. The company also provides laser sensors, including light detection and ranging technologies for intelligence, surveillance, and reconnaissance applications; and fiber amplifiers, beam combination, and control systems for use in high-energy laser systems in directed energy applications.